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Equity (Tables)
 6 Months Ended
Jun. 30, 2019
Equity [Abstract]  
Net income attributable to common stockholders and the issuance of our Class A shares in exchange for the conversion of OP Units into common stock
The following is net income attributable to common stockholders and the issuance of our Class A shares in exchange for the conversion of OP Units into common stock (amounts in thousands):
 
Three Months Ended
 
Six Months Ended,
 
June 30, 2019
 
June 30, 2018
 
June 30, 2019
 
June 30, 2018
Net income attributable to common stockholders
$
11,087

 
$
16,651

 
$
16,764

 
$
26,419

Increase in additional paid-in capital for the conversion of OP Units into common stock
5,594

 
15,678

 
8,865

 
25,840

Change from net income attributable to common stockholders and transfers from non-controlling interests
$
16,681

 
$
32,329

 
$
25,629

 
$
52,259
Summary of restricted stock and LTIP unit activity
The following is a summary of restricted stock and LTIP unit activity for the six months ended June 30, 2019:
 
Restricted Stock
 
LTIP Units
 
Weighted Average Grant Fair Value
Unvested balance at December 31, 2018
91,158

 
5,702,821

 
$
9.68

Vested
(35,724
)
 
(598,402
)
 
15.98

Granted
69,358

 
2,848,726

 
9.55

Forfeited or unearned
(4,834
)
 
(1,338,267
)
 
7.11

Unvested balance at June 30, 2019
119,958

 
6,614,878

 
$
9.54
Earnings per share
Earnings per share for the three and six months ended June 30, 2019 and 2018 is computed as follows (amounts in thousands, except per share amounts):
 
Three Months Ended
 
Six Months Ended
 
June 30, 2019
 
June 30, 2018
 
June 30, 2019
 
June 30, 2018
Numerator - Basic:
 
 
 
 
 
 
 
Net income
$
18,930

 
$
30,184

 
$
28,786

 
$
48,242

Private perpetual preferred unit distributions
(234
)
 
(234
)
 
(468
)
 
(468
)
Net income attributable to non-controlling interests
(7,609
)
 
(13,299
)
 
(11,554
)
 
(21,355
)
Earnings allocated to unvested shares
(13
)
 
(10
)
 
(20
)
 
(16
)
Net income attributable to common stockholders - basic
$
11,074

 
$
16,641

 
$
16,744

 
$
26,403

 
 
 
 
 
 
 
 
Numerator - Diluted:
 
 
 
 
 
 
 
Net income
$
18,930

 
$
30,184

 
$
28,786

 
$
48,242

Private perpetual preferred unit distributions
(234
)
 
(234
)
 
(468
)
 
(468
)
Earnings allocated to unvested shares
(13
)
 
(10
)
 
(20
)
 
(16
)
Net income attributable to common stockholders - diluted
$
18,683

 
$
29,940

 
$
28,298

 
$
47,758

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average shares outstanding - basic
176,796

 
165,256

 
176,495

 
164,311

Operating partnership units
121,335

 
131,988

 
121,605

 
132,717

Effect of dilutive securities:
 
 
 
 
 
 
 
   Stock-based compensation plans
—

 
—

 
—

 
1

Weighted average shares outstanding - diluted
298,131

 
297,244

 
298,100

 
297,029

 
 
 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
 
 
Basic
$
0.06

 
$
0.10

 
$
0.09

 
$
0.16

Diluted
$
0.06

 
$
0.10

 
$
0.09

 
$
0.16